sain t-gobain annu al report 2008 annual report
sain t-gobain annu al report 2008 annual report
sain t-gobain annu al report 2008 annual report
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• The Annu<strong>al</strong> Gener<strong>al</strong> Meeting of June 5, <strong>2008</strong> <strong>al</strong>so approved<br />
the Board’s decision to <strong>al</strong>low Pierre-André de Ch<strong>al</strong>endar,<br />
following his appointment as Chief Executive Officer, to<br />
continue to be covered by the pension plan available to him<br />
before he became a corporate officer. In line with this<br />
decision and with the 1972 management pension plan rules,<br />
his term as Chief Executive Officer will be added to his<br />
pensionable years of service, which will be c<strong>al</strong>culated from<br />
October 1, 1989, corresponding to the date when he joined<br />
the Group. His pension will be based on his fixed<br />
compensation for his fin<strong>al</strong> year of service. In <strong>2008</strong>,<br />
Pierre-André Ch<strong>al</strong>endar continued to have access to up<br />
to 25 hours of support a year under a Group contract with<br />
an executive career management and support services<br />
company.<br />
The Annu<strong>al</strong> Gener<strong>al</strong> Meeting of June 5, <strong>2008</strong> <strong>al</strong>so approved<br />
the commitment given by the Board to pay compensation<br />
for loss of office to Pierre-André Ch<strong>al</strong>endar in the event that<br />
his appointment is not renewed or he is removed from office<br />
other than as a result of serious profession<strong>al</strong> misconduct.<br />
• Jean-Louis Beffa and Pierre-André de Ch<strong>al</strong>endar each have<br />
the use of a chauffeur-driven company car.<br />
• They do not receive any Directors’ attendance fees<br />
from any Saint-Gobain Group company.<br />
Application of AFEP-MEDEF recommendations of October 6,<br />
<strong>2008</strong> concerning corporate officers who continue to have an<br />
employment contract and termination benefits awarded to<br />
corporate officers will be examined when the Chief Executive<br />
Officer’s term comes up for renew<strong>al</strong> in 2010, as provided for in<br />
the recommendations.<br />
1. Tot<strong>al</strong> compensation and stock options awarded to the Chairman and the Chief Executive Officer<br />
(in euros) 2007 <strong>2008</strong><br />
Jean-Louis BEFFA Chairman of the Board of Directors<br />
Compensation for the year (see Table 2 for details) 1,226,000 1,052,036<br />
V<strong>al</strong>ue of stock options granted during the year (see Table 4 for details) 1,216,000 457,500<br />
V<strong>al</strong>ue of performance share grants for the year (see Table 6 for details) 0 0<br />
Tot<strong>al</strong> 2,442,000 1,509,536<br />
Pierre-André de CHALENDAR Chief Executive Officer<br />
Compensation for the year (see Table 2 for details) 1,168,133 1,282,607<br />
V<strong>al</strong>ue of stock options granted during the year (see Table 4 for details) 2,432,000 1,067,500<br />
V<strong>al</strong>ue of performance share grants for the year (see Table 6 for details) 0 0<br />
Tot<strong>al</strong> 3,600,133 2,350,107<br />
2. Compensation and benefits awarded to the Chairman and the Chief Executive Officer<br />
(in euros) 2007 <strong>2008</strong><br />
102<br />
Jean-Louis BEFFA Chairman of the Board of Directors Amount due Amount paid Amount due Amount paid<br />
Fixed compensation 713,418 713,418 613,848 613,848<br />
Variable bonus 430,468 614,000 350,000 760,468<br />
Exception<strong>al</strong> bonus 0 0 0 0<br />
Directors’ attendance fees 0 0 0 0<br />
Benefits in kind: - Accommodation<br />
- Company car<br />
80,620<br />
1,494<br />
80,620<br />
1,494<br />
86,160<br />
2,028<br />
Tot<strong>al</strong> 1,226,000 1,409,532 1,052,036 1,462,504<br />
86,160<br />
2,028<br />
Pierre-André de CHALENDAR Chief Executive Officer Amount due Amount paid Amount due Amount paid<br />
Fixed compensation 705,951 705,951 800,034 800,034<br />
Variable bonus 458,750 845,000 480,000 458,750<br />
Exception<strong>al</strong> bonus 0 0 0 0<br />
Directors’ attendance fees 0 0 0 0<br />
Benefits in kind: - Accommodation<br />
- Company car 3,432 3,432 2,573 2,573<br />
Tot<strong>al</strong> 1,168,133 1,554,383 1,282,607 1,261,357<br />
Saint-Gobain - <strong>2008</strong> Annu<strong>al</strong> Report